Medicamen Organics IPO allotment expected soon. Check status, GMP, listing date and other details

After getting a bumper response for the IPO, Medicamen Organics is likely to finalise the share allotment process later today. Investors can check the status of Medicamen Organics IPO allotment by logging in to the official website of the registrar, which is Link Intime India in this case.

Follow the step by step process mentioned below to check the status of allotment.

Step 1: Visit the IPO Allotment Status page on Link Intime India website (https://rti.kfintech.com/ipostatus/)


Step 2: Select IPO from the dropdown

Step 3: Put Application number and enter captcha and 'Submit'.

Medicamen Organics GMP
In the unlisted market, the company's shares are trading with a premium of Rs 50. If the trends sustain, the company's shares are expected to list with over 140% gains on June 28. The company has priced the IPO at Rs 34 at the upper end.

The SME IPO of Medicamen Organics was subscribed over 900 times at close, driven by robust demand across categories. The issue was completely a fresh equity sale of 31 lakh shares and through it, the company is raising around Rs 10.5 crore.

The net proceeds from the public offer will be used for product registration in the international markets, plant updation and increase in production capacity, working capital requirements and other general corporate purposes.

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Medicamen Organics is engaged in developing, manufacturing and distribution of broad range of pharmaceutical dosage including generic dosage in form of tablets, capsules, oral liquids, ointments, gel, syrups, suspension and dry powders for government (including both state and central governments) and private institutions as contract manufacturer.

According to a recent EY FICCI report, there has been growing consensus over providing new innovative therapies to patients. The Indian pharmaceutical market is estimated to touch $130 billion in value by the end of 2030. Meanwhile, the global market size of pharmaceutical products is estimated to cross over the $1 trillion mark in 2024.

For the period ended March 2024, the company clocked revenues of Rs 25.27 crore and net profit of Rs 2.4 crore.

GYR Capital Advisors is acting as the lead manager to the issue and Kfin Technologies is the registrar.

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